Ways to pay for a franchise

Let’s face it, opening a franchise can be expensive, and that money may not be so easy to come by, but you want to open a franchise. So what are your options?

Bank Loans

If you are considering a bank loan, your credit rating is the most important thing that banks will take into consideration. Bankers also favor businesses with good track records, so the franchise you choose will also come into play.

SBA Loans

SBA Loans are partially backed by the government, making them less risky. About 10% of all SBA Loans go to franchisees. These loans are usually $250,000-$500,000, but can go up to $2 million. Most of that money goes toward the franchise fee and working capital.

Tap into savings

Taking money out of 401(k) or other retirement funds might make sense over taking a loan. This option works best if a C corporation is set up to own and operate the business and the funds are transferred, instead of being taxed for early withdrawal. But this is a risky option because if the franchise fails, retirement funds can be wiped out.

Always make sure to consult with a professional about your financing options and how they will affect you in the long run. Also make sure to consult with your franchisor about any financing options they may have in place.

If you are looking for a franchise opportunity, Executive Care might be right for you. To learn more about Executive Care’s franchise opportunities, visit our website.

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What People Are Saying About Us

I am very excited to bring Executive Care to Florida. Now is the right time to invest in the home healthcare industry and I’ve found Executive Care’s model to be the best fit. I’m eager to start providing care to the residents of Pinellas County.

Andy C

We’re thrilled to be partnering with a full-service home care franchise with a proven business model and deep understanding of the critical role home care is playing in the lives of millions of Americans. We firmly believe in Executive Care’s core values and found it to be the best home care franchise fit for us. Our business is bringing an improved, coordinated level of care to the communities in Monmouth, Middlesex and Ocean Counties so that families here in central New Jersey can find the comfort they need for themselves and their loved ones.

Jeff W

Executive Care has a very supportive team who has helped straighten out all the details. The business model is already established and proven, which allows me to focus on the care of our clients and daily operations.